ITR 2 Form

Income Tax Return – 2 Form

ITR 2 Form

 

ITR-2 is a form available on the site of Income Tax India. But what is this form about and who can file it, you can get these details in our article.

 

This ITR form is used by residents as well as non-residents to file their return with Income Tax Department. As we already know that every PAN holder needs to file their Income Tax Return with Income Tax Department at the end of financial year. And this form is part of such filing.

This form can be filed by both individual as well as Hindu Undivided Families.

 

Who can File this Form ?

Only individuals or Hindu Undivided Families earning income from following sources or any clause applied to them can file this form

  • Income from Salary/Pension
  • Income from House Property (any number of house property)
  • Income from Capital Gains both short-term as well as long-term
  • Income from Other sources (including income from windfall gains such as lottery income, horse races, gambling(legal), etc.)
  • Foreign Income
  • Foreign Assets disclosure

 

Who are not eligible to file this form?

If any of the following is applicable then the person of Hindu Undivided Family will not be able to file this form:-

  • Any individual or Hindu Undivided Family have income partially or in fully from any Business or Profession
  • Individual who are eligible to file ITR-1 Sahaj
  • Individual who are eligible to file ITR-2A
  • An individual who are partner in a Partnership Firm

 

About This Form

This Form Contain Following Schedules and information which we have to fill in that:-

Part A: General Information General information about the assesse, constitution, and other details
Part B-TI Computation of Total Income
Part B-TTI Computation of tax liability on total income
Schedule IT Statement of payment of advance-tax and tax on self-assessment.
Schedule TDS
  • Schedule TDS1: Details of tax deducted at source on salary.
  • Schedule TDS2: Details of tax deducted at source on income other than salary.
Schedule Salary Details of income from salaries
Schedule House_Property Details of income from House Property (any number of House property)
Schedule CG Details of income from Capital gains. (Long-term & Short-term)
Schedule OS Details of income from Income from other sources.
Schedule CYLA- BFLA
  • CYLA: Details of income after set off of current year’s losses
  • BFLA: Details of income after set off of unabsorbed losses brought forward from earlier years.
Schedule CFL Details of losses to be carried forward to future years.
Schedule 80G Details of donations entitled for deduction under section 80G.
Schedule VIA Details of deductions under Chapter VIA.
Schedule SPI- SI
  • SPI: Details of income to be clubbed in the income of assesse arising to spouse/ minor child/ son’s wife or any other person or association of persons in Schedules-HP, CG and OS.
  • SI: Details of Special income which is chargeable to tax at special rates
Schedule EI Details of Exempt Income
Schedule FSI Details of income accrue or arise outside India.
Schedule TR- FA
  • TR: Details of taxes paid outside India.
  • FA: Details of Foreign Assets.

 

Due date To file ITR-2

Due date to file ITR-2 is 31st July of the next financial year. i.e. for FY 2014-15 due date will be 31st July 2015.

Although the date can be change by Income tax Department through notification.

To Know about other ITR forms or to know which ITR should I file please read our article “Which ITR should I file”

 

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